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In Japan the Nikkei 225 Up 0.2% today

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The markets in Japan up in early trade this morning Thursday with the Nikkei 225 rose 61 points or 0.2% to a near one-month high of 28,132 in early trade. This increase ease the market in Japan have  gained for the fifth consecutive session, as concerns about the potential for runaway inflation in the US eased after July’s data showed prices grew 5.4% yoy, the same as in June while the monthly rate slowed to 0.5% from 0.9% in June. In local data, producer prices in Japan rose by 5.6% yoy in July, the most in almost 13 years, amid surging commodity prices. Nexon Co jumped 7.6% after its revenue and operating income in Q2 was in line with expectations. Meantime, Kawasaki Kisen Kaisha climbed 7.3%. On the COVID-19 side, there were 15,812 new virus cases in Japan on Wednesday, marking a single-day record. Meantime, the medical service systems in Tokyo metropolitan area were nearing a situation as bad as a disaster, a health ministry advisory board said, adding that people should refrain from visiting their parents’ homes during the Bon summer holiday period from later this week.

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